Write down why you want to do a market analysis. Don't think about it too much, just write whatever comes to mind.
For example:
You are doing a market analysis to launch a malaysian numbers new accounting software. And your goal is to find answers to these questions:
How big is the accounting market and is there a business opportunity?
Who are your ideal clients and what are their unique characteristics?
Who are the existing players in the market and how do they position themselves
?
What are the best ways to reach and engage your potential customers?
Based on the analysis, you will decide the best way to launch and grow your business.
2. Research the big picture of your market
Now that you are clear about why you are doing a market analysis, it is time to get a bird’s eye view of your market using a market research tool . And gather information such as market size, competitors, opportunities, etc.
Use Semrush's Market Explorer tool to do this .
Open the tool and select the " Analyze Category " tab.
Next, choose your industry from the drop-down menu and click " Research a Market . "
"Analyze Category" tab selected for the "Accounting & Audit" business category in the Market Explorer tool
You will get a high-level overview that addresses:
.